Main Source Financial Group is merging with First Financial Bancorp and the new company, to be called First Financial Bank, will be moving its headquarters to Cincinnati. The companies made the announcement yesterday.
The merger will create a $13 billion dollar institution and it will be the sixth largest bank operating in Indiana and the fourth biggest in the Cincinnati area. The transaction is expected to close early next year and has to be approved by shareholders of both companies.
As part of the merger, the companies have announced a new community development plan for Greensburg, where Main Source has been based. That includes a commitment of 100 jobs and $1 million in community support over the next five years.